Although some office buildings report acceptable levels of occupancy, since the crisis began in April last year, rental prices in Nicaragua have fallen by up to 35%, and no improvements are envisioned in the short term.
Businessmen dedicated to the rent of real estate assure that in this scenario of political and economic crisis, they have had to diminish costs to give facilities to the clients and thus to stimulate the contracts.
In the first quarter of 2019, 76 environmental impact studies were submitted to develop condominiums, apartment buildings and other housing projects in the countries of the region.
The interactive platform "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, includes an up to date list of public and private construction projects for which environmental impact studies (EIA) were submitted to the respective institutions of each country.
Although in Costa Rica the level of unemployment of buildings in industrial parks is 8%, some precincts are facing threats, since companies could leave them because of the traffic congestion in the area where they are located and the travel time of employees.
For Colliers, other threats faced by industrial parks in the country to have their facilities unoccupied are that companies have several sites for the separation of their processes and competition for human resources.
Businessmen in Nicaragua estimate that this year the sales of houses will not exceed one thousand units throughout the country, which is explained by the economic situation that the country has been living for fourteen months now.
Although in April 2018 the political and social crisis broke out in the country, builders managed to sell 3,108 homes last year, but the figure was 34% lower than the 4,738 homes sold in 2017.
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Since June 3, in Guatemala, the purchase and sale of properties will require a single process to obtain certification of property and cadastral appraisals.
Before this change was implemented, it was necessary to compile separately the certifications of the value at which the real estate was registered in the Municipality, the fiscal value of Dirección de Catastro y Avalúo de Bienes Inmuebles (DICABI) or the value declared in the deed of Purchase-Sale or what was agreed upon by buyer and seller.
Until May 21, 2025, the plan to grant preferential interest rates for mortgageloans in the country was extended.
On May 20, Law No. 85 was published in Gaceta Oficial, which was approved by the National Assembly in April of this year and sanctioned this week by President Juan Carlos Varela.
In Jacó and its surroundings, in recent years there has been an upturn in construction, mainly because of the development of residential projects.
Data from the Federal College of Engineers and Architects (CFIA) indicate that since 2016 the number of square meters of construction processed in the cantons of Esparza, Puntarenas, Garabito and Quepos, all of the central Pacific, have remained high.
In the last year, the number of vacant commercial premises has increased in Costa Rica, behavior that is partly due to the economic situation of the country and changes in consumer preferences.
Figures from Colliers International specify that in the last two years the rate of availability of commercial premises in the country has registered an upward behavior, since in the first quarter of 2017 a rate of less than 4% was reported, and from January to March 2019 that proportion went up to 8%.
At the Expo Vivienda 2019 held in Panama, 600 housing development projects were presented in different parts of the country and $120 million were reported in negotiations.
The seventeenth version of Expo Vivienda had the participation of 180 companies, of which 12 were banks and 168 promoters and real estate, informed the organizers of the event.
In Costa Rica, it is estimated that rental housing with the best rates of return can be found in Escazú, Santa Ana, Sabana, Rohrmoser and the North of Heredia.
Estimates from Colliers Internacional detail that in the case of the office warehouses, the areas close to the Airport, the Coyol in Alajuela, and the Uruca, Heredia, Valencia, Lagunilla, San Francisco and Ochomogo, are the areas with the best profitability.
For real estate developers, combining offices, residences and businesses in the same project reduces the risk of losing profitability, as lower demand for one component can be offset by higher demand for another.
With the aim of reducing investment risks, Costa Ricalas companies prefer to build multi-purpose projects, which combine residences, offices and shops.
Because of the difficult political and economic situation that Nicaragua is going through, it is estimated that with respect to 2017, sales in Managua declined more than 50% during 2018.
According to the firm Keller Williams (KW Nicaragua), which brings together nearly 200 real estate agents throughout the country, sales have fallen because of uncertainty in the country, coupled with job losses in the local economy.
A 40% decline is estimated in the construction of social housing investments in the country, and in the case of middle and upper-class housing, the contraction reaches 70%.
According to figures from the Superior Council of Private Enterprise (Cosep), the value added in the construction sector will register a 25% decline, falling from $399 million in 2017 to $300 million in 2018.
A 22-floor residential tower, which will house 88 apartments in five different types, was announced in the San Benito neighborhood.
Representatives of Inversiones Bolívar explained that for the residential project called "Casa Uno Cinco Nueve", construction works are planned to begin in the second semester of 2019, and $30 million investment is estimated.
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